13/06/2019 - The OECD is encouraging tax administrations around the globe to step up their efforts to support the fight against money laundering and terrorist financing with the launch of a handbook intended to raise the awareness of tax examiners, auditors, and investigators of the important role they can play in combatting these crimes.

 

Tax evasion, terrorist financing, and money laundering are closely linked financial crimes and together these illegal activities result in billions of lost revenue and pose a serious threat to countries’ economic stability and national security. It is therefore critical that tax authorities operate in an environment where they can identify, report, and share information on suspected money laundering and terrorist financing with law enforcement authorities responsible for combatting these crimes.

 

First launched in 2009 as a practical tool to enhance co-operation between tax authorities and anti-money laundering authorities, the new Money Laundering and Terrorist Financing Handbook for Tax Examiners and Tax Auditors includes updated money laundering indicators and new material to increase detection and reporting of terrorist financing. Among other things, the Handbook:

• Describes the nature of money laundering and terrorist financing activities so that tax examiners and auditors can better assist criminal investigators in countering these activities;
• Provides guidance in identifying money laundering and terrorist financing during the conduct of normal tax audits;
• Describes the resources and tools that are available for effective detection and deterrence.

 

The Handbook will also enable countries to review and evaluate their own approaches for co-operation between tax authorities, anti-money laundering authorities, and authorities responsible for countering the financing of terrorism.

The Handbook furthers the OECD Oslo Dialogue, which promotes whole-of-government approaches to tackling financial crimes through international standard setting, capacity building, and evaluation and impact measurement.

 

Media enquiries should directed to Grace Perez-Navarro, Deputy Director of the OECD's Centre for Tax Policy and Administration (+33 1 45 24 18 80), or Achim Pross, Head of the International Co-operation and Tax Administration Division (+33 1 45 24 98 92).